Home Depot announced they are pushing Chairman and CEO Bob Nardelli out of the plane with a $210 million “you can do it, we can help-golden parachute” to help him land softly. Nardelli has a one-year non-compete that he has to uphold, so Bobby gets a year long vacation to take as well. Nardelli was forced out because shareholders were upset with his lofty pay and poor-stock performance. Vice-Chairman Frank Blakes will be the acting CEO, which actually took effect yesterday-sorry, holiday.
Home Depot (HD) was up 6.2% to $42.66 in electronic composite “futures” trading before the market opened. The 52-week high for HD was last March @ $43.95; conversely, the low was last July 18th, @ $32.85. Home Depot puts out (occasionally) for their investors with a dividend yield of 2.2%.
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